Premier Oil Shares Gain on Plans to Merge North Sea Operations
- CEO Tony Durrant comments in interview with Financial Times
- Premier Oil's full-year loss widened after crude slumped
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Premier Oil Plc advanced the most in almost three weeks after the North Sea explorer told the Financial Times it’s planning to merge operations with some rivals to cut costs.
The stock rose as much as 18 percent, the biggest gain since Feb. 17, and was up 10 percent to 48.5 pence as of 9:42 a.m. in London. Premier Oil’s shares have gained 40 percent in the past three trading sessions.